Lampert's Buyout Of Sears Hits Opposition
- 5 years ago
Business Insider reports a group of Sears creditors is challenging Eddie Lampert's victory in purchasing Sears out of bankruptcy.
A committee of unsecured creditors or UCC has filed to halt the sale to Lampert.
The UCC believe Lampert schemed to bankrupt and then buy the company for cheap while stiffing it's creditors.
Lampert's bid will keep about 400 stores open and retain 45,000 jobs. It still needs approval by a US bankruptcy court.
A committee of unsecured creditors or UCC has filed to halt the sale to Lampert.
The UCC believe Lampert schemed to bankrupt and then buy the company for cheap while stiffing it's creditors.
Lampert's bid will keep about 400 stores open and retain 45,000 jobs. It still needs approval by a US bankruptcy court.